Can my heirs inherit the annuity payments from a Powerball or Hot Lotto Jackpot?
A Lottery prize is like any other asset. Per the New Mexico Lottery Act, prizes may be paid to a deceased winners estate or to a person designated by judicial order. In the event of the death of a lottery winner during the annuity payment period for the Powerball or Hot Lotto game, the remaining annuity payments may be paid each year to the estate. Or, upon the petition of the estate to the New Mexico Lottery, with the approval of the Multi-State Lottery Association (MUSL), the Lottery may accelerate the payment of all the remaining lottery proceeds to the Estate. If such a determination is made, the cash value of the securities and/or cash held to fund the deceased lottery winners annuitized prize may be distributed to the estate.
- A Megabucks Plus!, Mega Millions, Hot Lotto or Powerball jackpot winner may select an ANNUITY or a CASH payment option. Whats the difference?
- If a Megabucks Plus!, Mega Millions, Hot Lotto or Powerball jackpot winner selects the ANNUITY option, what happens if he or she dies?
- Can my heirs inherit the annuity payments from a Powerball or Hot Lotto Jackpot?